Loan Comparison: 3.72% vs 6.5%
2124 Ridge Plaza, Castle Rock, CO 80108 · 3bd/4ba · $1,395,000
List Price
$1,395,000
Assumable Rate
3.72%
Remaining Balance
$492,171
Equity Gap
$901,788
Loan Type
VAAdjust Your Scenario
$69,750
$69,750$901,788
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,376/moAssumable @ 3.72% + gap loan
$8,669/moAssumed loan: $2,271/mo
Gap financing: $6,398/mo
Your Savings on This Property
2124 Ridge Plaza, Castle Rock · 3.72% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($901,788) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($69,750, 5% of purchase price) and a second mortgage for the rest ($832,038 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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